What Every Trustee & Beneficiary Needs to Know

Fading Memories: Alzheimer's/Dementia Support

Apr 12 2022 • 0 seconds

There are many things a trustee needs to know… My sister and I were both a trustee of our parents’ estate. Because there are a lot of details neither of us was aware needed handling, it was a good thing for us. There are a number of complicated steps required by law when administering a trust & that’s what we’re discussing on the show. You may be saying, “But, doesn’t having a trust avoid the legal work associated with a death?” Unfortunately not. When someone dies, the process is very nearly the same whether there is a trust or probate. The difference between trust administration and probate is that the trust administration is done privately, while probate is handled publicly in court, and usually, probate is much more expensive. In a probate, the executor is required to use specific form documents and to get a judge’s permission to act, but the basic steps that must be covered in probate are very similar to the steps covered in a trust administration. If you are the sole trustee as well as one of several beneficiaries, there are many steps you need to understand. Kirsten of the Absolute Trust Counsel is here to walk us through the most important things to know. Related Episodes: Allowing for A Natural Death – Alzheimer’s Living Will Medicare Demystified Check out our new sponsor!  ​Life is a journey, and at Pharma-C-Wipes, we provide products that support you at each twist and turn. PicnicHealth (Our Sponsor)         Access all your medical records in one place & opt into research with PicnicHealth Be sure to check out our website for more resources, partners, recipes, and more.  www.fadingmemoriespodcast.com Join Fading Memories On Social Media! If you’ve enjoyed this episode, please share this podcast with other caregivers!  Choose your favorite platform and follow us for more advice, motivation, recipes, and cute dog photos. Facebook    InstagramTwitter Subscribe to our YouTube channel. There you can see me in “action” and watch the bonus videos I share. Want to learn from Jennifer in person (or virtually)? Wherever you’d like a training session, Jen is available. Contact her at fadingmemoriespodcast@gmail.com   Make Your Brain Span Match Your Lifespan with Relevaate NeuroReserve – Helping Our Brainspan Match our Lifespan

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